Principal Financial Group Inc. Sells 358,736 Shares of Mattel, Inc. (NASDAQ:MAT)

Principal Financial Group Inc. lowered its stake in shares of Mattel, Inc. (NASDAQ:MAT) by 31.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 787,022 shares of the company’s stock after selling 358,736 shares during the quarter. Principal Financial Group Inc. owned about 0.23% of Mattel worth $14,993,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its stake in Mattel by 2.8% during the third quarter. Nisa Investment Advisors LLC now owns 25,795 shares of the company’s stock worth $491,000 after purchasing an additional 693 shares during the period. GAMMA Investing LLC lifted its position in shares of Mattel by 38.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,797 shares of the company’s stock worth $53,000 after buying an additional 775 shares during the period. State of Alaska Department of Revenue boosted its stake in Mattel by 3.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 39,484 shares of the company’s stock valued at $752,000 after buying an additional 1,160 shares in the last quarter. KBC Group NV grew its position in Mattel by 13.8% in the third quarter. KBC Group NV now owns 10,166 shares of the company’s stock valued at $194,000 after acquiring an additional 1,229 shares during the period. Finally, UMB Bank n.a. raised its stake in Mattel by 584.3% during the third quarter. UMB Bank n.a. now owns 1,485 shares of the company’s stock worth $28,000 after acquiring an additional 1,268 shares in the last quarter. 97.15% of the stock is currently owned by institutional investors and hedge funds.

Mattel Trading Down 0.2 %

MAT stock opened at $17.96 on Friday. The company has a quick ratio of 1.88, a current ratio of 2.45 and a debt-to-equity ratio of 1.01. Mattel, Inc. has a twelve month low of $15.87 and a twelve month high of $20.59. The company has a market cap of $6.05 billion, a P/E ratio of 11.23, a PEG ratio of 0.97 and a beta of 0.76. The business has a fifty day moving average of $18.89 and a 200-day moving average of $18.50.

Mattel (NASDAQ:MAT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.19. Mattel had a return on equity of 25.39% and a net margin of 10.24%. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the business posted $1.08 EPS. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. As a group, equities research analysts expect that Mattel, Inc. will post 1.46 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on MAT. DA Davidson reaffirmed a “buy” rating and issued a $27.00 target price on shares of Mattel in a report on Thursday, October 24th. Bank of America raised their price objective on shares of Mattel from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. StockNews.com raised Mattel from a “hold” rating to a “buy” rating in a report on Tuesday. Morgan Stanley raised their price target on Mattel from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Finally, Jefferies Financial Group boosted their price objective on Mattel from $18.25 to $20.00 and gave the stock a “hold” rating in a research note on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $23.75.

Mattel Profile

Mattel, Inc, a toy and family entertainment company, designs, manufactures, and markets toys and consumer products in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through North America, International, and American Girl segments. It offers dolls and accessories, as well as books, content, gaming, and lifestyle products for children under the Barbie, American Girl, Disney Princess and Disney Frozen, Monster High, and Polly Pocket brands; die-cast vehicles, tracks, playsets, and accessories for kids, adults, and collectors under the Hot Wheels, Hot Wheels Monster Trucks, Hot Wheels Mario Kart, Matchbox, and Cars brand names; and infant, toddler, and preschool products comprising content, toys, live events, and other consumer products under the Fisher-Price, Little People and Imaginext, and Thomas & Friends, and Power wheels brands.